According to the latest data from Reserve Bank of India, Indian companies’ external commercial borrowings posted a 45 per cent drop to US$ 2.42 billion in January 2019, as compared to the corresponding period last year. The Indian companies, during January of the previous year, had raised $5.4 billion from international channels.
As per the Reserve Bank’s ECB data for January 2019, out of the total borrowings, Indian companies raised $2.27 billion through the automatic route of the ECB. The remaining $150 million was collected through the approval route. During the month of January, both in 2019 and 2018, no money was raised through rupee denominated bonds.
The biggest borrowers during the month under discussion were the state-owned oil marketing companies, which raised the money for their working capital requirement. These oil firms include Indian Oil Corporation Ltd which collected $900 million, whereas Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd raised $500 million and $200 million, respectively.
Another PSU, Power Grid Corporation of India Ltd, raised $228.55 million for power project meanwhile Reliance Home Finance Ltd collected $35.50 million for lending. Power Finance Corp was the only firm to raise $150 million for the sub-lending purpose.
Read EquityPandit’s Nifty Energy Outlook for the Week
Trump Announces Upcoming US-Ukraine Minerals Deal
Donald Trump stated on Thursday that the US will soon sign a minerals and natural resources deal with Ukraine, linking it to his ongoing peace efforts after recent talks with Russian and Ukrainian leaders.
Speaking at a White House event, he mentioned discussions with Vladimir Putin and Volodymyr Zelenskyy, which resulted in a 30-day pause in Russian attacks on Ukrainian energy infrastructure.
Trump believes these efforts could save thousands of lives and remains hopeful about ending the war.
The US and Ukraine had previously agreed to develop Ukraine’s critical mineral resources, with Trump viewing it as a way for Kyiv to repay US support.
However, efforts to finalise the deal faced setbacks after a heated White House meeting with Zelenskyy last month, temporarily halting US military aid.
A revised version of the deal is reportedly more detailed but does not yet include Ukraine’s requested security guarantees. At the same time, the EU has yet to approve additional artillery funding for Kyiv.
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Tesla recalls 46,096 Cybertrucks over loose panels posing road hazard
Tesla is recalling 46,096 Cybertrucks in the US due to a defect that could cause an exterior panel to detach while driving, posing a road hazard.
The recall marks a setback for Tesla, as the Cybertruck’s success is crucial to its growth amid rising competition and an ageing vehicle lineup.
Tesla will replace the faulty rail assembly free of charge, with the recalled vehicles representing most Cybertrucks on the road.
Demand for the unconventional EV pickup has already shown signs of weakness following delays, and Tesla shares fell nearly 2% in premarket trading.
Tesla shares have dropped 42% this year amid a sluggish EV market and concerns over CEO Elon Musk’s growing government role.
The company led the US recalls in 2024, with 5.1 million vehicles affected, though most issues were resolved through software updates.
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Adani Enterprises Completes Full Acquisition of Parserlabs India
Adani Enterprises announced that Sirius Digitech Limited, a joint venture of Adani Global Limited, Mauritius, has acquired the remaining 22.5% stake in Parserlabs India Private Limited (PIPL).
The transaction, finalized on 19 March 2025, strengthens the Adani Group’s expansion in data centres and cloud services.
This follows Sirius Digitech’s initial 77.5% stake purchase in PIPL, announced on 16 July 2024. With the latest Rs 45 crore investment, PIPL is now a wholly-owned subsidiary of Sirius Digitech.
Founded on 25 March 2019, PIPL fully owns Coredge.io India Private Limited (CIPL), a deep-tech startup specializing in sovereign AI and cloud platforms. CIPL serves cloud providers, government agencies, and telecom firms, contributing to strong financial growth.
PIPL reported a turnover of Rs 45.63 crore in FY 2023-24, up from Rs 28.94 crore in FY 2022-23 and Rs 12.09 crore in FY 2021-22.
The 22,500 equity shares (Rs 1 face value each) were acquired at Rs 20,000 per share through a cash transaction. Adani Enterprises emphasized that this acquisition enhances its expertise in cloud computing and data centre infrastructure.
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Pentagon plans to cut up to 60,000 civilian jobs
The Department of Defense plans to cut 50,000 to 60,000 civilian jobs, targeting a 5% to 8% reduction in its 900,000-strong workforce.
Around 6,000 positions per month will be eliminated by not replacing departing workers, raising concerns that service members may fill vacant roles.
The reduction will occur through voluntary resignations, firing probationary workers, and leaving vacated positions unfilled.
Defense Secretary Pete Hegseth assured that military readiness would not be affected, though some veterans will be impacted.
A federal judge has temporarily halted the termination of 5,400 probationary employees, initially dismissed for poor performance or misconduct.
Officials are reviewing personnel to ensure essential national security roles remain unaffected.
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China welcomes PM Modi’s remarks on India-China ties
China welcomed Prime Minister Narendra Modi’s positive remarks on India-China ties, emphasising that cooperation between the two nations is the way forward.
Chinese Foreign Ministry spokesperson Mao Ning said the Xi-Modi meeting in Kazan last year provided strategic guidance for improving ties.
She noted both countries have strengthened exchanges and cooperation, achieving positive outcomes in various areas.
China expressed readiness to work with India to enhance cooperation and advance stable bilateral relations, marking 75 years of diplomatic ties.
In a podcast with Lex Fridman, Modi said normalcy has returned to the India-China border after talks with Xi, emphasising their long-standing cultural ties.
He stressed that India-China cooperation is crucial for global stability, adding that competition between the two should be healthy, not conflict-driven.
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